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Solve. -How Long Will It Take for $8600 to Grow to to $35,700

Question 133

Multiple Choice

Solve.
-How long will it take for $8600 to grow to $35,700 at an interest rate of 7.1% if the interest is compounded continuously? Round the number of years to the nearest hundredth.


A) 20.05 yr
B) 2.00 yr
C) 2 yr
D) 2004.77 yr

Correct Answer:

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